British economy grows slower than expected: data

23rd December 2015, Comments 0 comments

Britain's economy grew slower than expected in the third quarter, revised official data showed on Wednesday.

Gross domestic product (GDP) expanded by 0.4 percent in the July-September period, down from previous estimates of 0.5-percent growth, the Office for National Statistics said in a statement.

The data also revealed a slowdown compared with the second quarter, which came in also weaker than expected after a revision downward.

Analysts had forecast a revision higher in third-quarter GDP to 0.6 percent following some robust pre-Christmas retail sales data.

But a Treasury spokesman said in a statement Wednesday that the latest growth figures "highlight that risks remain" to the British economy despite it growing favourably compared to its eurozone neighbours.

GDP for the second quarter was meanwhile revised down to 0.5 percent from 0.7 percent, the ONS added.

© 2015 AFP

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